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Morningstar Indexes: Weekly Market Report

Week ending Sept.29: Investors stay optimistic amid doom and gloom.

Morningstar Indexes, 10/03/2006

Despite a host of worrying economic data--rising inflation, a softening housing market, and rebounding energy prices--investors remained optimistic. The Morningstar US Market Index finished up 1.6% for the week ending Sept. 29, and posted a robust 4.61% for the quarter.

The Morningstar Market Barometer brimmed with shades of green, as even the worst-performing index--the Morningstar Small Core Index--managed to post returns of 0.8% for the week. And the much-awaited large-growth rally might be around the corner. The Morningstar Large Growth Index surged 2.1% for the week, pushing it into the black for the year, making it the best performer among the nine Morningstar style indexes last week. The Morningstar Large Value Index still leads the pack with a gain of 16% for the year to date.

Intel INTC, the second largest holding in the Morningstar Large Growth Index, saw its shares jump 7.9% last week after evidence it is gaining ground on its chief competitor Advanced Micro Devices AMD. Intel announced the introduction of its "quad core" chips and got a boost when a federal judge dismissed key aspects of an AMD anti-trust lawsuit. EBay EBAY rose 8.7% after its PayPal division reached a preliminary agreement in a class action suit regarding its user agreement.

The Morningstar Small Core Index got a boost from one of its largest holdings, Conexant Systems CNXT, when it jumped 12.4%. The stock rose on news that it will receive $100 million in cash from the sale of Jazz Semiconductor, a privately held wafer foundry.

For a more in-depth look into market performance, view the PDF report U.S. Market Overview. Daily updates of index returns are available here.

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